The Jayco company has a weekly payroll of $150,000 and its last payroll processed before the end of the financial year was on Friday 26th June. Employees do not work on weekends and are only paid for time worked from Monday to Friday. Required: Prepare the journal entry to accrue the payroll at 30th June.

Q: SQU Company paid the weekly payroll on January 2 by debiting Wages Expense for $27,000. The…

A: Journal: Journal is the method of recording monetary business transactions in chronological order.…

Q: Francisco Company has 10 employees, each of whom earns $2,700 per month and is paid on the last day…

A: A journal entry is used in an accounting record for a business to describe a business transaction.…

Q: Swifty Company has the following data for the weekly payroll ending January 31.     Hours…

A: Gross pay is the measure of cash of the worker get before the tax and allowances . Net pay is the…

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

A: a.

Q: Ehrlich Co. began business on January 2, 20Y8. Salaries were paid to employees on the last day of…

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: On January 8, the end of the first weekly pay period of the year, Regis Company's payroll register…

A: FICA stands Federal Insurance Contributions Act, which is a US federal payroll contribution directed…

Q: The following is a payroll register for Green Rock Associates, for the week ended March 06: Sale…

A: Payroll: It is the remuneration that a company owes to its employees for a specific period of time…

Q: The names of the employees of Cox Security Systems and their regular salaries are shown in the…

A: Pay the Payroll for the Pay Period Ending December 26, for each employee.     Note: federal Income…

Q: On January 15, the end of the first pay period of the year, North Company's employees earned $32,000…

A: Payroll: The act of paying workers of a firm is referred to as payroll. This process involves…

Q: the payroll manager for a particular company, your task is to complete the following weekly payroll…

A:

Q: Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records…

A: An organization's payroll costs not just incorporate the wages paid to the representatives. In the…

Q: Reviewing payroll records indicates that one-fifth of employee salaries that are due to be paid on…

A: Journal: Recording of a business transactions in a chronological order.

Q: FDN Company paid employee wages on and through Friday, January 26, and the next payroll will be paid…

A: Wages expense per day = Total wages for a week / No. of working day in a week Accrued expense at the…

Q: n the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed,…

A:

Q: akarot Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Payroll taxes:   Payroll taxes are taxes imposed on employers or employees, and are usually…

Q: Skiles Company's weekly payroll amounts to $10,000 and payday is every Friday. Employees work five…

A: JOURNAL ENTRY ON 31 AUGUST , 2022 :   DATE PARTICULARS  DEBIT ($) CREDIT ($) 31/08/2022 WAGES /…

Q: Cedarville Company pays its office employee payroll weekly. Below is a partial list of employees and…

A: Pass necessary journal entries.

Q: 2. Record employer payroll taxes.

A: Payroll Tax :— It is the tax that is levied on payroll of the employers.

Q: During October, Seger Insurance employees earned $100,000 in wages. The employer's share of Canada…

A: Journal entries are passed following the golden rules of accounting. Debit all assets and expenses…

Q: Given the following data from the payroll register of Johnson Construction, prepare the journal…

A: Introduction: Journal: Recording of a business transactions in a chronological order. First step in…

Q: Hickory Park Senior Center has a weekly payroll of $5,000. December 31 falls on Thursday, and…

A: An adjusting entry is an entry made at the close of an accounting cycle in a business's accounting…

Q: S Corp. follows a 5-day (Monday-Friday) work-week. It pays its salaried employees on a bi-weekly…

A: The accrued salaries are the salaries that are earned during the period but not paid yet. These are…

Q: The following is a payroll register for Brown and Associates, for the week ended February 20:…

A: Given that: Salaries = $1,250,000 Social Security Tax Withheld  = $75,000 Medicare Tax Withheld  =…

Q: Pablo Management has eight employees, each of whom earns $165 per day. They are paid on Fridays for…

A: Accrued wages is the amount of wages that have been accrued at the reporting date but has not been…

Q: Whispering SE's weekly payroll, paid on Fridays, totals € 6,600. Employees work a 5-day week.…

A: From Monday to Wednesday = 3 days Salaries expense has been accrued for 3 days till December 31.

Q: As the payroll manager for a particular company, your task is to complete the following weekly…

A: The question is based on the concept of Business Finance.

Q: On July 31, the payroll register for Red Company showed the following totals for the month: gross…

A: Gross earnings=Sales salaries+Office salaries=$30,500+$8,450=$38,950

Q: In the Illustrative Case in this chapter, payroll transactions for Brookins Company were analyzed,…

A: SOLUTION- NOTE- 1-FICA TAX PAYABLE -OASDI RATE IS 6.2% OF WAGES AND SALARIES PAID 2-FICA TAX…

Q: Adams, Inc., pays its employees’ weekly wages in cash. A supplementary payroll sheet that lists the…

A: Payroll is the compensation that a company is obligated to pay to its employees for a specific…

Q: The payroll records of Brownlee Company provided the following information for the weekly pay period…

A:

Q: A business pays biweekly salaries of $20,000 every other Friday for a 10-day period ending on that…

A: Adjusting entry on december 31: Date Account Titles Debit Credit December 31 Salary Expense…

Q: Ehrlich Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Answer 1)

Q: On January 14, at the end of the second week of the year, the totals of Castle Company's payroll…

A: For the amount of  Social Security Tax and Medicare taxes  refer journal entry.

Q: Kakarot Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Social security tax is a type of payroll tax that is levied by the government on employers. The…

Q: Sheffield Limited has the following information available for accruals for the year ended December…

A: A journal entry is the act of recording any transaction, whether one that is economic or not. An…

Q: Watson Corporation pays its employees on the 15th of each month. It is December 31, and the company…

A: Lets understand the basics. Adjustment entry is required to pass at the year end to  record correct…

Q: On July 31, the payroll register for Red Company showed the following totals for the month: gross…

A: Working Note: Sales Salaries Expense = Gross earnings - Office Salaries Expense = $38,950 - $8,450 =…

Q: Ehrlich Co. began business on January 2. Salaries were paid toemployees on the last day of each…

A: The payroll register is the employee register kept by the human resource department to record the…

Q: Lightning Electronics is a midsize manufacturer of lithium batteries. The company’s payroll records…

A: Solution:- 1)Calculation of the amount of net pay as follows:- Amount of net pay = Employees earned…

Q: Irina Company pays its employees weekly. The last pay period for 20-1 was on December 28. From…

A: Accounting is the process of recording, classifying and summarising accounting transactions.…

Q: A business pays biweekly salaries of $20,000 every other Friday for a ten-day period ending on that…

A: Salary per day = $20,000 / 10 days = $2,000 per day Accrued salary expense on December 31 = $2,000…

Q: Kakarot Co. began business on January 2. Salaries were paid to employees on the last day of each…

A: Form W-2: It is an IRS tax form that shows the salaries paid to the employees & the taxes…

Q: Sheffield Consulting Inc's gross salaries for the biweekly period ended August 24 were $12,500.…

A: Salaries expenses include the following deduction = CPP Payable + EI payable  + income tax payable…

Q: Francisco Company has 10 employees, each of whom earns $2,500 per month and is paid on the last day…

A: Introduction: Salary is a regular payment made by an employer to an employee based on the work and…

Q: During the month of January, an employee earned $5,000 of salary. Withholdings from the employee’s…

A: Solution:- Introduction:- The following basic information as follows:- Employee earned $5,000 of…

Q: se only at its December 31 year-end. Data relating to salaries earned on December 2021 are as…

A: Accrued Salaries: Accrued salaries are a balance-sheet item that shows a current liability. These…

Q: Sheffield Limited has the following information available for accruals for the year ended December…

A: A journal entry is the process of recording or maintaining track of any financial or non-financial…

Q: Green’s employees Are paid in cash each Friday for the weeks work and the payment for the payroll in…

A: The adjusting entries are made at the end of the year to accrue or defer the expenses and income of…